June 22, 1976 issue (dig062276.pdf)

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Issue76121
SEC Docket            Vol            No       17    July                                           22   1976




RULES     AND RELATED              MATTERS                                       JUN 23   1976


pROPOSAL       TO     ADOPT      SECURITIES EXCHANGE RULES 19d-l
                                   PROPOSED RESCISSION OP SECURITIES       U.S   SECURITIES AND
   AND         AND         19h-1
EXCHANGE       ACT         RULES  l5Ab-l AND l5Ag-l                      EXCIMNOE     COMMISSION

         The Conuission   published for comment proposed Securities     Exchange    Act Rules   19d-l
            and    and 19h-l and proposed rescission of Rules     l5Ab-l   and   l5Agl     The  proposed
         Rules  are as follows          proposed Rule l9d-l would require     self-regulatory organiza
         tions        SROs
                         for which the   Commission is the appropriate   regulatory agency      to give
         the Couui.ission notice of all final   disciplinary actions    denials    of membership parti
         cipation or association with       member or prohibitions or limitations        of access    to
         servies and summary suspensions or limitations       of membership       participation or
         association               iosed
                                 by it on any of its members participants         persons associated
         wIth    member or any person and prescribe the form and content          of such  notices
         proposed Rule   19d-2  would prescribe the form and content of applications         for stays of
         fin1 disciplinary     sanctions andsummary   actions of  SROs           proposed Rule    19d-3

         would prescribe   the form and content of applications    for Commission review      of final
         disciplinary sanctions    denials of membership participation       or association with
         member or prohibitions or limitations     of access   to services   imposed by SROs
                                                the form and content     of notices by SRO      of pro
         proposed Rule  l9d-1 would prescribe
         posed admissions to or continuances    in membership    participation or association with
           member of any persons subject to      statutory   disqualification    and applications   to
         the Commission for relief from     statutory disqualification

                                                        views  to George     Fitzsinuons
                  persons are invited to submit their
         Interested
         SecretarySecurities and Exchange Commission 500 North Capitol Street        Washington
         D.C 20549 no later than July 30 1976 Reference        should be made to File No
         S7640  All comments received will be available    for public  inspection    Rel
         3412561

COMMENT PERIOD ON PROPOSED AMENDMENT
TO RULE 24 OF THE COMMISSIONS    RULES  OF
PRACTICE AND PROPOSED REVOCATION    OF SECURITIES
EXCHANGE ACT RULE l2b-34  EXTENDED

         The  Commission announced the extension of the comment     period on the proposed amend
         ment of Rule  24 of the  Commissions  Rules  of Practice   and the  proposed revocation of
         Securities Exchange Act Rule   12b-34   The  comment   period which was due to expire on
         June 21 has been extended to July 19 1976         For information relating to the proposed
         amendment to Rule   24 of the Rules of Practice and the proposed revocation of Securi
         ties Exchange   Act Rule l2b34 see Rel 33-5711       May 21 1976        Interested parties   are

         invited to submit their views   to George     FitzsimlnonS    Secretary    SEC 500 North
         Capitol Street Washington     D.C 20549 on or before July 19 1976            Reference should

         be made to File No    S7633    Rel 335719


DECISIONS        IN    ADMINISTRATIVE              PROCEEDINGS


FIVE     INDIVIDUALS              SANCTIONED

                                                Puff ii Jr and            Radler  both  of Miami
         The Commission has barred Gilbert                       Stanley
         Florida and Stephen       Cahen of North Miami Beach from association with any broker
                           three respondents were a8sociated with the former   brokerage firm of
         or dealer    The
         Robert     Ferman         Inc   The  Co
                                             Commission also suspended two salesman    who were
                                                                                       of MinneapO
         associated  with other firms Robert   Forman of Miami and George Wasson
                                                                         periods of 30 and 45 days
         lis from association with any broker-dealer for respective
         effective           June     28
                                                                                               of SM Indus
         The   Commiss ion            foundthat Radler and Cahen fraudulently sold the stock
                                        made misrepresentations concerning SMS activities
                                                                                              and  prospective
         tries Inc                 They
                                                                                                 sales effort
                                                                           in   high pressure
         rises        in    the    market price of its stock   and engaged
                                                                 foundation    The Comeission
         that was unsupported by any semblance of an adequate
                         that Tuffli who was Ferman Co     vice president   trader and research
         further found
                   incited its salesmen to make unfounded  recommendations of JBT Co stock to
         analyst
         customers     Finally the Commission held that Waason violated the Securities Acts
         registration provisions in connection with the sale of
                                                                   SM stock and noted that
         Ferman had been permanently  enjoined from violating these provisions   in connection
         with the  sale of both SM and JBT stock      .Rel  34-12534



COURT ENFORCEMENT                 ACTIONS


UNITED WELFARE FUND  UNITED                 WELFARE   FUND-
SECURITY DIVISION ENINED

         The   SEC    announced that on May 17 Judge Charles         Metzner signed the final judgment of
                                    against the United Welfare Fund United         and the United Welfare
         permanent 4.njunction
         Fund-Security Division Security          Division      On March 18 1975    Judge Charles
         Metzner had enteed          rº1iminary    injunction against United which in part restricted
         the  investment of funds by United to certificates of deposit Treasury bills federally
         Insured    savings   banks and investments     of   similar prudent   nature     The final judgment
         ordered the Security Division to engage within 90 days from the entry of the final
         judgment      an investment   manager satisfactory to the Commission to manage the invest
         ment portfolio of the Security Division            The  order of final  judgment enjoins United
                                                                                                    of the
         and the Security Division from further violations of the antifraud provisions
         securities     laws    Furthermore     the Security Division was ordered     to have its certified
                                                                       benefits to union beneficiaries
         public accountants verify and confirm the payout of
                     to court ordered procedures         In addition the order prohibited United      from
         pursuant
         lending or advancing any money or assets          to the  Security Division and also requires
         the Secuxity DiyJ.5ion to mail the minutes of each meeting of the            trustees to each
         trustee       EEC      Howard GarfJ.nkle    et         al
                                                               U.S.D.C S.D.N.X 75 Civ 184 CMM
          LR-745

CHARLES          MARTIN OTHERS          ENJOINED
AND   ORDERED        TO   DISGORGE    PHOCEEDS

         The New York Regional Office     announced that on June   the Honorable John    Curtin
         Chief Judge  of the  U.S District Court for the Western District of New York Buffalo
         New   York  issued    final  judgment of permanent injunction and order of ancillary
         relief by default for failure to appear or answer against defendants       Charles
         Martin C.E Martin             Co Inc
                                            and TexTel International Inc    The judgment enjoins
         the above  defendants   from violations of the registration and antifraud provisions   of
         the securities laws and orders them to disgorge all sums of money or other property
         Improperly obtained   by them or by others acting in concert or participation  with them
         In connection  with the transactions  alleged in the Commissions   complaint   The com
         plaint filed on May       alleged that the defendants sold over $120000 face amount of
         12% certIficates   of indenture of PezTel International Inc       shell corporation with
         no aaaets officer directors or books and records       to investors  in the Buffalo
         New York area and elsewhere

         In  addition     on June    Judge Curtin issued       final   judgment of permanent injunction
         against Rollo        Lutz    The  judgment    which was entered upon   Lutzs consent without
         admitting or denying the substantive allegations of the cortlaint            enjoins Lutz from
         further   violations   of the   registration and antifraud provisions     of the securities
         laws    For more information        please see  LR740.      SEC     Martin et       al
                                                                                             Civil
         76203                             LR7454

STEVEN          MURPHY      AND    HENRY      THOREAU
ENJOINED

         The Los Angeles Regional Office        announced that on April 15 the Honorable Lawrence
         Lydick of the U.S District Court in Los Angeles              entered preliminary injunctions
         against Steven        Murphy and Henry          Thoreau   both of Laguna Beach California
         from  violations   of the    registration and antifraud provisions of the securities laws
         On May 25 Judge Lydick entered            final  judgment and order of permanent injunction
         against Thoreau       Thoreau consented to be enjoined without admitting or denying the
         allegations    set forth in the     Commissions complaint         In connection       with the entry of
         the preliminary injunctions         the Court   found that the defendants had violated the
         registration provisions of the securities laws in connection                  with the offer and sale
         of limited partnership       interests  in cable   television limited partnerships syndicated
         by rntertie           mc
                                The Court also found      that  the defendants       had failed to disclose
         adequate    information relating to Interties          dependency     upon    new funds   raised from
         investors     Interties    track record and financial      condition        the  roll to be played by
         general   partners    tax benefits of the investments         and   the    price paid by Intertie for
         cable   television facilities prior to their resale          to the partnerships            SEC     Inter
         tIe    Inc       et   al     CV752775LTL         C.D   CA   LR7455
                                                                                 NEWS   DIGEST    June   22   1976
PERMANENT        RECEIVER     FOR              INDUSTRIES     INC   OTHERS


       The Boston Regional Office announced that on June       the Honorable     Frank      Murray
       U.S  District Judge for the District of Massachusetts      allowed    the  Commissions motion
                                                                                        for
       requesting that Daniel     Bickford  Esquire   be made permanent receiver
       dntries Inc                American Industrial   Research  Corporation AIRCO         and Ameri
       can Investment Management Corporation    Mr Bickford had been appointed temporary
       receiver following   hearing on October      1974     SEC               Industries    Inc
       et      al
                D.C Mass 1974        LR7456


INVESTMENT          COMPANY         ACT RELEASES


VARIED        INDUSTRY    PLAN

            notice has been issued giving interested persons      until   July  15 to request       hearing
         on an application of Varied Industry      Plan Inc the Fund Executive              Management Cor
                          William Blair               for an order permitting EMC and       Blair  to con
         poration     and                  Company
                 to provide investment   advisory  services  to the Fund   on  an interim basis     until
         tinue
                 investment   advisory agreement between the Fund and EMC and          new   research
            new
                                                             for approval    or disapproval    by the
         agreement between EMC and Blair are presented
         Funds sharcholders at the Funds 1976 annual meeting scheduled to be held on Septem
         ber    30 1976            Rel      IC9327     June   21


HOLDING        COMPANY       ACT RELEASES


WJNONGAHELA         POWER     COMPANY

                                                                         Power Company and
         An order has been issued authorizing  proposal   by Monongahela
         West Penn Power company subsidiaries of Allegheny Power System    Inc and Ohio Power
                              Electric         subsidiaries   of American Electric Power Com
         company and Wheeling          Company
               Inc that certain utility assets be sold between the companies       Rel 35-19584-
         pany
         June 21

INDIANA          MICHIGAN         POWER   COMPANY

         An order has been issued authorizing Indiana                        Michigan      Power     Company          IMP     subsi
                                                                         subsidiary of             American     Electric Power
         diary of Indiana   Michigan Electric Company
                                    Bank Loan                            to                 for     an     extension of the
         Company  Inc to amend                Agreement
                                                    from
                                                                             provide
                                                                                           30      1977     to   September     30
         maturity of IMP notes issued thereunder                         September

         1980       Rel       3519585          June   21

THE    YOUGHIOGENY          AND    OHIO COAL    COMPANY

         Anorder has been issued granting an exemption
                                                                             under      Section     3a            to   YO    and its
                                            Company                          Rel     35-19587             June   21
         subsidiary Ravencliffs Development

AMERICAN        ELECTRIC      POWER       COMPANY

                                                              until July 13 to request   hearing
            notice has been issued giving interested persons
         on    proposal of American Electric Power Company   Inc certain of its subsidiaries
                                                                         relative  to  develop
         and  Black Thunder Coal Company    newly incorporated company
                                                                         Rel 3519581           18
         ment program for coal mines located in Carbon   County Utah                     June



OHIO ELECTRIC            COMPANY

                                                                 until  July 13 to request    hearing
            notice has been issued giving interested persons                               subsidiary
                                  Electric Company  subsidiary   of Ohio Power  Company
         on     proposal of Ohio
         of American Electric    Power company  Inc to issue and sell up to $100 million of
                                                to institutional   investors     Rel 35-19582
         ftrst mortgage bonds by negotiation
         June lBJ

GEOJIA POWER             COMPANY

                                                                                Georgia Power             Company      subsidiary of
         An order has been issued approving     proposal of
                                                       issue                    and sell at   competitive   bidding   up
         The Southern Company whereby Georgia will                                         shares of Class     preferred
                million of first mortgage bonds   and  up to                    2000000
         to $50
                                                                                of the sale will be    applied to
         stock stated  value $25 per share    The  proceeds

         Georgias construction program
                                                  35-19583  Rd                   June     18




NEWS     DIGEST      June     22     1976
SELFRGULATORY               ORGANIZATIONS


 NOTICE      OF PROPOSED      RULE   CHANGE

       The      New   York Stock
                          Exchange     Inc     NYSE has filed     proposed rule change under Rule
       19b4       SRNYSE7636   to recind   the   restrictions in its Rule 110 except the prohibi-
       tion against dominating   the market     in   stock   Publication  of the proposal i8 expec
       ted to be made in the   Federal Register during the week of June 21         Rel 3412554
       The  NYSE has also filed    proposed rule change under Rule l9b-4    SRNYSE7637      to

       reduce the minimum capital requirement for Registered   Traders   from the current ini
       tial  and maintenance capital requirements of $250000 and $175000       respectively    to

          constant minimum capital requirement of $25000 over and above any other Federal
       or Exchange  capital requirements and to change the title
                                                                  of Registered    Traders to
       Competitive   Traders Publication of the proposal is expected to be made in the
       Federal Register during the week of June 21      Rel 3412555

       The NYSE also has filed      proposed rule change under Rule l9b4       SRNYSE7638        to

       make the following major changes to Exchange Rules      109  and 112        alter the pro
       visions which govern the acceptance    of  stops by Registered Traders             rescind the
       current provision which prohibits      Registered   Trader from effecting   long purchases
       of    stock above the previous days closing price on plus or           zero plus ticks
       except for zero plus tick purchases on his bid
                                                                   rescind the current provision
       which prohibits     Registered  Trader from having precedence     based on size over an
       offFloor order when liquidating       position    and      modify the reporting require
       ments of Registered   Traders concerning  trading activity reports       Publication   of the
       proposal is expected to be made in the Federal Register during the week of June 21
        Rd        3412556

       The      Pacific    Stock
                          Exchange Inc has filed    proposed rule change under Rule 19b-4
        SRPSE76-18       revise Sections
                               to          and   of its Rule IX regarding the Exchanges
       procedures relative to the purchase and sale of memberships on the Exchange    Publi
       cation of the proposal is expected to be made in the Federal Register during the
       week of June 21    Eel 3412557

SECURITIES       ACT REGISTRATIONS


 S-l      THE   JACOBOWSKY     COMPANY

       150  East 77th         St
                            New York N.Y 10021      $850000   of pre-formation   limited partner
       ship   interests in units of $17000 each to be offered by the General Partners
       Diana Shuxulin   Charles Woodward  and Masabi Ltd     The Company  is to be  formed under
       the  limited partnership  laws of New York for the   purpose of producing   the dramatico
       musical play tentatively   entitled Jacobowsky   and  the Colonel      File 256543
       June

 S-14      NATIONAL       INDUSTRIES     INC

       510 West Broadway   Louisville   Ky 40202      416535 shares of common stock     These
      shares are being registered in connection     with the proposed merger of Cott Corpora
      tion Cott into       whollyowned   subsidiary of National whereby   each outstanding share
      of common stock   of Cott not owned   by National will he exchanged  for .45 share  of coin
      non stock of National      Each Cott stock  purchase warrant expiring January 31 1982
      not owned by National will be exercisable into .45 share of National common stock at
        price of $33.33   per share until January 31 1977    and thereafter at    price of
      $44.44  per share until January 31 1982       As of June    1976 National owned 1631200
      shares 81.56%     of the common stock   of Cott and 800000   61.5% of Cotts 1300000
      outstanding stock   purchase warrants expiring January 31     1982   File 2-56563
      June

S-5     STEINROE       CASH   RESERVES     INC

      150  South Wacker         Dr
                             Chicago    Ill 60606   1000000 shares of capital stock to be
      offered for sale   on  continuing basis at $1.00 per share   The company is   noload
      diversified   open-end investment  company which will invest in high quality money
      market instruments maturing in one year or less    Stein Roe   Farnham is the manager
      File 256512      June

S-l STANOD             CORPORATION

      2417  North Davidson           St   Charlotte   N.C 28233        $6382800      of   12%   convertible  subor
      dinated debentures             due 1991    It is proposed   to   offer these    shares     in exchange  for

                                                                                     NEWS   DIGEST   June   22   1976
        the outstanding 6-1/2%    convertible    subordinated debentures of the company     due 1989
        at      rate of $600
               the            face  amount of new debentures for each      $1000 face amount of old
        debentures    Stanwood Corporation is principally engaged         directly and through its
        subsidiaries   in the manufacture     and  sale of mens work   and  leisurewear and underwear
        and knit goods and in the extrusion of nylon yarn and the texturizing of yarn
         File 256625     June 17

  S-i    ENERGY       AND    ENVIRONMENTAL          COMPANIES         INC

        2050   Western  Federal Savings Bldg 718 Seventeenth                           St
                                                                        Denver Cob 80202       600000
        shares of common stock to be offered for sale through               Leonard and Company the
        underwriter      200 Title Bldg 909     Seventeenth                       St
                                                                  Denver Cob 80202 at       price of
        $1.00   per share      Energy and Environmental  Companies   Inc is    holding company   the
        subsidiaries of which principally design assemble manufacture           market install
        and   service engineered mechanical equipment and systems which control pollution and
        generate    and/or   conserve energy    File 2-56627    June 17


  S-i    THE                CABOT    EQUITY       CORP

        104  South Central Ave     Valley Stream N.Y   11580     $2 million of convertible   subor
        dinated debentures     due 1986 and 200000 five year common stock     purchase warrants
        to be offered   for sale in units each consisting    of    $1000 debenture and 100 war
        rants through First Jersey Securities      Inc 80 Broad                             St
                                                                         New York N.Y as under
        writer    The  company through subsidiaries principally acts as        broker of U.S
        Government   securities   foreign exchange  Federal  funds and Eurodollars   and   other
        Euro-currencies      File 256630     June 17

  S6     THE     MUNICIPAL        BOND FUND        SERIES        32


        do      Paine                   Curtis Inc 140 Broadway
                            Webber Jackson                             New  York N.Y 10005     and
        Horribbower                     Noyes Inc
                             WeeksHemphill              Hanover        New             St
                                                                            York N.Y 10005         5000
        units     The Trust will be created  under     trust indenture    among Paine Webber Jackson
           Cutis Inc   and Hornblower    WeeksHemphill Noyes Inc as sponsors             United States
        Trust Company of New York as trustee       and  Standard     Poors Corporation      as evalua
        tor    The Trust will consist of interest bearing obligations issued         by or on behalf
        of states counties     municipalities and territorial     possessions of the United States
        and authorities    agencies and other political subdivisions       thereof   the  interest on
        which is in the opinion of counsel to the issuers        of such   obligations    exempt from
        Federal        income     tax       File 256631               June   17

  S-7    COMMERCIAL          CREDIT       COMPANY

        300     St    Paul    Place        Baltimore         Md
                                                    $50 million of mediumterm
                                                                     21202     investment
                                            for    unit
                                                   sale of $1000 or more by Commercial Credit
                                                            at    100% per
        notes to be offered
                          Commercial Credit Company is engaged in commercial financing    and
        Securities   Inc
        leasing  consumer finance and insurance    File 256634     June 17

  S-B    THE     JAPAN      DEVELOPMENT       BANK

        9-1 Otemachi 1chome Chiyoda-ku      Tokyo Japan        $100  million of guaranteed notes due
        1981 to  be offered  for sale by underwriters managed       by The First   Boston   Corp 20
        Exchange Place New York N.Y 10005 Dillon          Read      Co Inc 46 William            St
                                                                                                New
        York N.Y 10005 Smith Barney Harris Upham           Co Inc 1345 Avenue of the Americas
        New York N.Y 10019 and The Nikko Securities        Co International        Inc 140 Broadway
        New York N.Y    10005   The  Japan Development   Bank whollyowned       by the Government   of

        Japan is engaged in development financing      in Japan       File 2-56636      June 17

  S-7    HANNAFORD          BROS     CO
        54 Hannaford          St
                           Portland   Maine 04106   225000 shares of common stock to be of fer
        ed for sale through  Kidder Peabody     Co Inc managing underwriter   75 Federal              St
                       02101   Hanniford  sells at retail and wholesale  food products through
        Boston MaSS
        out Maine and parts of New Hampshire and Vermont and operates retail drugstores
        Pile 256637      June 18

  S-16       JACK    ECKERD      CORPORATION

        2120     U.S
                  Highway 19 South Clearwater     Fla 33516   94200 shares of common stock
        which may be offered for sale  from time to time by certain shareholders at prices
                                       Jack Eckerd corporation primarily operates   chain of
        Current at the time of sale
        retail drug stores    File 2-56639     June 18




HENS   DIST          June   22     1976
 S-6       INSURED        MUNICIPALS-INCOME      TRUST   SERIES

          208  South LaSalle           St
                                   Chicago Ii. 60604      $5 million of units     to be offered   for

          sale  at net asset value  $1050 maximum      The Fund is one of     series of unit invest
          ment trusts created  under    trust indenture between Van Kanipen   Sauerman         as               Inc
                   and Bradford Trust Company as trustee      It consists   of an  insured portfolio
          sponsor
          of interestbearing   obligations issued  by or on behalf of states      counties munici
          palities and territories of the United States and authorities      and  political subdivi
          sions thereof   the interest on which is in the opinion of                         bond counsel exempt from
          all Federal income tax under existing law      MGIC Indemnity                      Corporation has insured
          the prompt payment of interest and   principal   when due on                       the bonds in the portfolio
          of the Fund    File 256642     June 18

 S-IA        ST     JOE MINERALS        CORPORATION

          250 Park        AveYork N.Y 10017
                                 New            971300 shares of coasnon stock to be issued
          in connection      St Joes acquisition of Tennessee Consolidated Coal Company
                                with                                                       at
          the rate of 10 St Joe shares for each outstanding Tennessee  Consolidated share
          St Joe mines and produces minerals and mineral products   principally coal  zinc and
          zinc oxide  lead iron ore pellets and oil and gas     File 256643     June 18

 S-l6                 GRACE       CO
          1114 Avenue of      Americas
                                 the     New York N.Y     487119 shares of comuon stock which
          may be offered      sale from time to time by certain stockholders at prices current
                                 for
          at the  time of sale    The company is   diversified international  chemical company with
          interests in natural resources and consumer products   and services    File 2-56646
            June 18

 STOCIC    PLANS     FILED

          The  following have filed Form S8 registration statements with the SEC seeking regis
          tration of securities to be offered pursuant  to employee stock and related plans
                Science Management Corp Moorestown    N.J File 2-56621     June 16    353000
                   shares
                Federal Paper Board Company  Inc Montvale N.J File 256623         June 16
                     $2160000          ofinterests
                   PittsburghDes        Moines  Steel    Co    Neville   Island   Pa     File 256628              June    16
                     150000      shares   and  $2589380       of notes
                  Ideal  Toy Corp New York N.Y    File 256629     June 17    100000 shares
                  Pennsylvania  Engineering Corp Pittsburgh  Pa File 2-56626      June  17
                     544500 shares
                  Revlon Inc New York N.Y      File 256632    June  17    231726 shares
                  Monitor Labs Inc San Diego Cal      Pile 256633     June 17    232000 shares
                  Naranco Materials  Inc Costa Mesa Cal File 256635        June 18     1500 shares
                  Boothe Computer Corp San Francisco    Cal File 2-56638     June 18     355050
                     shares




RECENT      8K    FILINGS



      Form         report which must be filed with the SEC by the 10th of the month after
                  8K is
      any        of the
                 following important events or changes             in control of the
                                                          changes                      regis
      trant acquisition or disposition of assets legal proceedings       changes in securi
      ties        i.e
                  collateral for registered securities    defaults  upon senior securities
      increase or decrease in the amount of securities outstanding    options to purchase
      securities  revaluation of assets submission   of matters to    vote  of security hold
      ers

      The companies  listed below have filed Form 8-K reports for the month indicated     res
      ponding to the item of the form specified    Photocopies   may be purchased from the
      Coamtissions Public Reference Section  in ordering    please give month and year of
      report    An index of the captions of the items of the form was included in Mondays
      News        Digest

                                CGIPANY                                           IT4                  MONflL
                      GIFFORD HILL     CO INC                                                           0576
                      GLOBE INDUSTRIES   INC                                           1113             05/76
                      GOODY SAM INC                                                     ii              05/76
                      GRACE        CO                                              31114                05/76
                      GRAHAM NAGNETICS INC                                              13              05/76
                      GRANOVIEW  MINES                                                 1214             05/76
                                                                                             NEWS   DIGEST      June     22    1976
RECENT   8K   FILINGS    CONT
                 GREAT   NORTHERN MANAGEMENT Co INC                             31314     05/76
                 GREAT   NORTHERN NEKOOSA CORP                                   1114     05/76
                 GREEP4AWAY   KATE  INDUSTRIES   INC                                      05/76
                 GREEQ   HYDRAULICS INC                                                   05/76
                 GREY ADVERTISING       INC                                    181314     05/76
                 GUIDANCE    TECIIOLOGY      INC                                 37       05/76
                 I4ARLYN  PRODUCTS    INC                                       21314     06/76
                 HEALTH   CARE FUND                                             71114     05/76
                 HEALTH   INDUSTRIES      INC                                     11      05/76
                 HECKS   INC                                                              04/76
                 HERCULES    INC                                                3813      05/76
                 HILTON HOTELS CORP                                              1314     05/76
                 HOLLY   CORP                                                    313      05/76
                 HOLLY   SUGAR CORP                                                       05/76
                                                                                  11      04/76
                 HOMASOTE Co
                 HOWELL CORP                                                    41114     05/76
                 HUDSON GENERAL     CORP                                       101314     05/16
                  IDAHO  POWER CO                                                311      05/76
                  108  BANKHOIDING CORP LTD                                       13      05/76
                 IDEAL   BASIC    INDUSTRIES INC                               31813      05/76
                  105  MCCULLOCH OIL EXPLORATION             1971     PROGR               05/76
                 INCOTERM    CORP                                               7814      05/76
                 INDIANA   NATIONAL CORP                                          13      05/76
                 INLAND CONTAINER       CORP                                      13      05/76
                                                                                  13      05/76
                 INLAND HERITAGE CORP
                  INSTRUMENTATION         LABORATORY      INC                             05/76
                 INTERNATIONAL        TELEPHONE         TELEGRAPH      CORP      714      04/76
                 INTERPUBLIC       GROUP     OF COMPANIES       INC              1114     05/76
                 INVENT INC                                                      1114     05/76
                 INVESTORS SYNDICATE OF AMERICA INC                               11      05/76

                 ITT   FINANCIAL CORP                                             11      05176
                 JERSEY CENTRAL        POWER        LIGHT    CC                 31314     05/76
                 JONES       LAUGHLIN STEEL CORP                                          05/76
                 KAISER ALUMINUM             CHEMICAL CORP                      3714      06/76
                 KAISER CEMENT            GYPSUM    CORP                        2714      05/76
                 KAISER INDUSTRIES           CORP                                 13      05/16
                 KANE    MILLER CORP                                            71114     05/76
                                                        CD                       714      0516
                 KANSAS CITY POWER              LIGHT
                 KANSAS    CITY    STAR     CO                                  7811      05/76
                           GAS       ELECTRIC CO                                  11      05/76
                 KANSAS
                              UTILITIES        CO                                 13      05/76
                 KENTUCKY
                                                                                  11      01/76
                 KINGSTIP     INC
                 KIRK    CORP                                                 2.8111314   05/76

                 KLEER    PAK   CORP                                             1314     03/76
                 KMS   INDUSTRIES       INC                                     21314     05/76
                 KOBACKER     STORES INC                                         1114     05/76
                 KOPPERS CO INC                                                  714      05/76
                             CORP                                                         05/76
                 KRAFTCO
                 KRN PETROLEUM        CORP                                      91113     06/76
                                                                                          05/76
                 LAURENTIDE FINANCIAL CORP LTD
                              TRANSPORTATION          CORP                        11      0576
                 LEASEWAY
                                          INC                                             05/76
                 LEGGETI        PLATT
                                               CORP                               13      05/76
                 LEISURE     TECHNOLOGY
                                                                                          03/76
                 LIBERTY     LOAN CORP
                 LIBERTY     LOAN CORP                                         111314     05/76
                                                                                          05/76
                 LIGGETT     GROUP    INC
                                            CORP                                  13      05/76
                 LIN BROADCASTING
                 LIQUID AIR CORP OF NORTH AMERICA
                                                                                 713      03/76

                 LITRONIX     INC                                               41114     05/76

                 LITTLE SQUAW GOLD MINING              CO                         13      05/76

                 LOEWS CORP
                                                                               111314     05/76

                 LOEWS THEATRES     INC                                        111314     05/76
                                                                                          05/76
                 MANAGEMENT    ASSISTANCE INC
                                                                                          05/ 76
                 MARCOR INC
                 MARINE   CORP                                                 111314     05/76

                 MARINE   EXPLORATION CO INC                                   111314     05/76

                 MARION   CORP                                                  31113     05/76

                 MARLEY CO
                                                                                  78      05/76

                 MARRIOTT   CORP
                                                                                  78      05/76

                 MAYNARD on CO
                                                                              247814      05/76

                 MCCORMICK      CO INC                                          4714      03/76

                 NCCRORY CORP
                                                                                71014     05/76

                                        SERVICES          INC                    1113     05/76
                 MCDONALD MICRADATA

NEWS   DIGEST   June    22   1976
RECENT   81    FILINGS   CONT
                   EAD    CORP
                                                                                                                                                      378                                  05/76
                                                                                                                                                        13                                 05/76
                   MEDENCO INC
                   MEDICAL INVESTMENT         CORP                                                                                              381114                                     06/76
                                                                                                                                                      1314                                 05/76
                   MIDLINE    INDUSTRIES      INC
                                                                                                                                                        13                                 05/76
                   MERCHANTS      PETROLEUM Co
                                                                                                                                                        12                                 05/76
                   4ETALINE    MINING        EASING CD
                                                                                                                                                      214                                  05/76
                   METPATH    INC
                                                                                                                                                        11                                 05176
                   MFY   INDUSTRIES     INC
                                                                                                                                                        13                                 05/76
                   MICR000T     INC
                   MID   AMERICA INDUSTRIES        INC                                                                                          111314                                     05/76

                   MID CONTINENT       TELEPHONE    CORP                                                                                          714                                      05/76
                                                     INC                                                                                                11                                 05/76
                   MIDWESTERN      DISTRIBUTION
                                                                                                                                                      1114                                 05/76
                   MILLER WOHI      CO   INC
                   MISSOURI     PUBLIC SERVICE CO                                                                                                     714                                  05/76
                                                       SAVINGS                                            PLAN                                                                             05/76
                   MOBIL   OIL    CORP  EMPLOYEES
                   MOLYCORP INC
                                                                                                                                                  7813                                     05/76
                                                                                                                                                                                           05/76
                   MONARCH CEMENT CO
                   MORRIS  PHILIP INC                                                                                                                 714                                  05/76
                                   ARBOR  CORP                                                                                                                                             05/76
                   NATIONAl   ANN
                                                                                                                                                        14                                 05/76
                   NATIONAL   GYPSUM CO
                                                                                                                                                        13                                 04/76
                   NATIONAL   PARAGON CORP
                                         CHEMICAL                                       CORP                                                                                               05/76
                   NATIONAL   STARCH
                   MEW  ENGLAND GAS      ELECTRIC                                       ASSOCIATION                                           411.1314                                     05/76
                                                                                                                                                        11                                 05/76
                   MEWBERRY                    CO
                                                                                                                                                                                           05/76
                   NEWPORT       GENERAL                  CORP
                                                     INC                                                                                                                                   05/76
                   4IAGARA FRONTIER       SERVICES
                                     INC                                                                                                                                                   05/76
                   NI INDUSTRIES
                                          INC                                                                                                                                              05/76
                   NOBLE AFFILIATES
                   NOLEX CORP                                                                                                                           13                                  0576
                                                                                                                                                          11                                05/76
                   NORTH CAROLINA TELEPHONE         CO
                                                   ROYALTY    TRUST                                                                                    1114                                 05/76
                   NORTH EUROPEAN OIL CO
                   MORTH LAWNDALE ECONOMIC         DEVELOPMENT      CORP                                                                              314                                   05/76
                                        MORTGAGE       REALTY    INVEST                                                                                1114                                 05/76
                   NORTHERN STATES
                                          LTD                                                                                                             13                                05/76
                   NORTHERN TELECOM
                   NORTHROP CORP                                                                                                                       1114                                 05/76
                   NUCOR CORP                                                                                                                     31114                                     05F76
                   OAKBROOS CONSOLIDATED        INC                                                                                                   314                                   05/76
                   OCEAN  SCIENCE       ENGINEERING INC                                                                                               1113                                  05/76
                   OCEANEERING    INTERNATIONAL      INC                                                                                                  17                                05/76
                                                                                                                                                          11                                05/76
                   OCEANIC FINANCIAL CORP
                                                                CO                                                                                                                          05/76
                   OHIO SEALY MATTRESS        MANUFACTURING
                   OLLA  INDUSTRIES     INC                                                                                                                                                 05/76
                   OMEGA EQUITIES     CORP                                                                                                              14                                  04/76
                   ONEAI  JONES      FELDMAN    INC                                                                                                                                         05/76
                   OTIS  ELEVATOR   CO                                                                                                                    13                                05/76
                   OTTER TAIL  POWER   CO                                                                                                             714                                   05/76
                   OUTLET CO                                                                                                                      81113                                     05/76
                   OWENS CORNING   FIBERGLAS CORP                                                                                                                                           05/76
                   PACIFIC GAS TRANSMISSION CO                                                                                                            13                                05/76
                   PACIFIC TELEPHONE                                TELEGRAPH                     CO                                                                                        05/76
                   PAN OCEAN OIL                                                                                                                  4814                                      05/76
                   PANAX     CORP                                                                                                                      111                                  05/76
                   PARGAS INC                                                                                                                                                               05/76
                   PARKER DRiLLING CO                                                                                                           47814                                       05/76
                   PATRICK OIL    GAS CORP                                      1976        COMBINATION                                               713                                   04/76
                   PATRICK OIL    GAS CORP                                      1976        INCOME PROGR                                              713                                   04/.76




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                                                                                                                                                                NEWS               DIGEST              June          22      1976